There’s luxury and then there’s this: a 23,000-square-foot home in the ultra-exclusive neighborhood of Trousdale Estates has just been placed on the market for the colossal sum of $85 million. The home is the latest mega-mansion to hit the market as a ready-to-move-in property, a trend that has been gaining popularity among jet-setting, uber-rich real estate clientele.
The man behind the home is none other than handbag mogul turned ultra-luxury home developer Bruce Makowsky, who purchased the original home on the property two years ago for $12.65 million. Following the purchase, Makowsky promptly took to outfitting the home with the most tricked-out luxury features available. Among the added features are a 12-seat vodka bar, a custom Italian banquet table for 24 guests, a wine room pre-stocked with Dom Perignon and a candy cave among many more rooms filled with high-end treasures.
The home is situated on a cliffside property consisting of nearly an acre of land in Beverly Hills and features panoramic views of downtown Los Angeles. Sleek and modern accents run throughout the eight-bedroom, 15 bathroom home, which features curved glass walls and high-end brand names such as Fendi and Louis Vuitton on its furnishings.
Such a high-end home is fit for extremely high-end clientele. Reportedly, music super-couple Jay-Z and Beyonce have been quietly vetting the home as their landing pad following their “On the Run” tour.
Beverly Hills Luxury Market Ripe for the Picking
While the developer of the home, Bruce Makowsky shops his mega home to only the most exclusive clientele, the rest of the Beverly Hills luxury real estate market is featuring conditions that could bode well for any luxury buyer as prices have been edging down and available inventory has been edging up.
Altos Research, a California-based real estate analytics company, reports that as of September 12 the median single-family home value in Beverly Hills is $4,191,731. Home values reached a peak in late June, rising to $4.5 million before taking a turn downward. While this has been happening, homes have been coming to the Beverly Hills market, giving home buyers a better selection in addition to a wider berth for negotiating good prices for these luxury homes. Altos reports about 164 properties on the market as of September 12.
With such advantageous conditions for home buyers, it seems Makowsky picked the right neighborhood in which to attract a buyer for his luxe property. Makowsky is no stranger to the real estate game as the fashion mogul has bought and sold five properties in the Platinum Triangle, the area encompassing Beverly Hills, Bel-Air and Holmby Hills, prior to this one.
With the impending sale of this home and others in the area such as the Fleur de Lys estate, it seems the ultra-high end of real estate is once again flourishing in Southern California.
If you are interested in learning more about available luxury properties in Beverly Hills, please contact our team of luxury property experts today.